There is no one-size-fits-all answer here
Posted: Sun Dec 22, 2024 10:06 am
There is no one-size-fits-all answer here. It depends on the specific case, but also, for example, on the number of people carrying out the project, the amount of information and the availability of data. Because it is worth remembering that such market analysis often requires not only primary research but also secondary research.
Therefore, all these activities require weeks or months to generate philippines phone directory search vreal value for the customer and satisfy their needs.Market research can take different forms, for example, depending on the purpose for which it is conducted. Based on this variable, we distinguish between research:
Exploration
Proof
Price
How do they differ? Exploratory research is designed to identify different problems and promote understanding. Pricing research, on the other hand, facilitates pricing policy for products in a given market/segment. The function of test research, on the other hand, is to test different types of products or services.
Quantitative and qualitative market research
Do you want to know which is the most popular product in the "Garden" category? A quantitative survey will be very useful. This is an activity designed to extract as much numerical information as possible about market trends.
And if you want to know why people choose an electric lawnmower instead of a petrol one, for example, you need to conduct a qualitative study. It is mainly based on small groups of people and makes it easier to analyse a specific process.
Market research - time
Are you thinking about your future strategy? Or do you want to know what the market was like one year/five years ago or in another time frame? Market research provides such data, based, for example, on data provided by the Central Statistical Office, but also on various types of surveys.
How long does a market study take?
There is no one-size-fits-all answer here. It depends on the specific case, but also, for example, on the number of people carrying out the project, the amount of information and the availability of data. Because it is worth remembering that such market analysis often requires not only primary research but also secondary research.
Therefore, all these activities require weeks or months to generate real value for the customer and satisfy their needs.
Therefore, all these activities require weeks or months to generate philippines phone directory search vreal value for the customer and satisfy their needs.Market research can take different forms, for example, depending on the purpose for which it is conducted. Based on this variable, we distinguish between research:
Exploration
Proof
Price
How do they differ? Exploratory research is designed to identify different problems and promote understanding. Pricing research, on the other hand, facilitates pricing policy for products in a given market/segment. The function of test research, on the other hand, is to test different types of products or services.
Quantitative and qualitative market research
Do you want to know which is the most popular product in the "Garden" category? A quantitative survey will be very useful. This is an activity designed to extract as much numerical information as possible about market trends.
And if you want to know why people choose an electric lawnmower instead of a petrol one, for example, you need to conduct a qualitative study. It is mainly based on small groups of people and makes it easier to analyse a specific process.
Market research - time
Are you thinking about your future strategy? Or do you want to know what the market was like one year/five years ago or in another time frame? Market research provides such data, based, for example, on data provided by the Central Statistical Office, but also on various types of surveys.
How long does a market study take?
There is no one-size-fits-all answer here. It depends on the specific case, but also, for example, on the number of people carrying out the project, the amount of information and the availability of data. Because it is worth remembering that such market analysis often requires not only primary research but also secondary research.
Therefore, all these activities require weeks or months to generate real value for the customer and satisfy their needs.